Paul Burkhardt

1 week ago | news.bloombergtax.com | David Herbling |Paul Burkhardt

Tullow Oil Plc’s $120 million agreement to sell its Kenya oil discoveries will only come to fruition once the buyer sets out a plan for development, the regulator said. Tullow agreed to sell the fields to Gulf Energy Ltd., a Nairobi-based oil and gas trader, in April after struggling for more than a decade to bring them on stream. The development plan became a stumbling block for the company, and it ultimately offloaded the finds to focus on legacy assets in West Africa.

1 week ago | news.bloomberglaw.com | David Herbling |Paul Burkhardt

Tullow Oil Plc’s $120 million agreement to sell its Kenya oil discoveries will only come to fruition once the buyer sets out a plan for development, the regulator said. Tullow agreed to sell the fields to Gulf Energy Ltd., a Nairobi-based oil and gas trader, in April after struggling for more than a decade to bring them on stream. The development plan became a stumbling block for the company, and it ultimately offloaded the finds to focus on legacy assets in West Africa.

3 weeks ago | rigzone.com | David Herbling |Paul Burkhardt

Kenya lawmakers said a lack of detail over Tullow Oil Plc’s sale of oil assets to local company Gulf Energy “raises concerns” for the industry in the East African nation. Tullow ended a decade-long quest to develop discoveries in April, when it sold the inland fields for $120 million to Gulf Energy, a Nairobi-based oil and gas trader. Tullow has announced divestments in recent months toward reducing its debt below $1 billion this year.

3 weeks ago | bloomberg.com | Paul Burkhardt

N'djamena, Chad. (Bloomberg) -- US President Donald Trump’s travel ban on seven African nations could dampen economic and diplomatic ties, a continental bloc warned. Trump on Thursday signed a proclamation that restricts travel by foreign nationals from 12 countries, including Chad, Republic of Congo, Equatorial Guinea, Eritrea, Libya, Somalia and Sudan, citing the need to counter the threat of terrorist attacks and safeguard the public.

3 weeks ago | bloomberg.com | David Herbling |Paul Burkhardt

(Bloomberg) -- Kenya lawmakers said a lack of detail over Tullow Oil Plc’s sale of oil assets to local company Gulf Energy “raises concerns” for the industry in the East African nation. Tullow ended a decade-long quest to develop discoveries in April, when it sold the inland fields for $120 million to Gulf Energy, a Nairobi-based oil and gas trader. Tullow has announced divestments in recent months toward reducing its debt below $1 billion this year.